Guaranty Bancshares Inc., a Mount Pleasant-based financial institution, announced terms for its initial public offering (IPO) on Monday.
The bank plans to raise $54 million by offering 2 million shares at a price range of $26 to $28 per share. .The common stock is expected to trade on the Nasdaq Global Select Market under the symbol “GNTY.”
Guaranty intends to use its net proceeds from the offering to further implement its expansion strategy and fund organic growth within its banking markets, repay corporate debt, and for general corporate purposes.
As of December 31, 2016, Guaranty had 26 locations, total assets of $1.8 billion, total loans of $1.2 billion and total deposits of $1.6 billion.
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www.gnty.com